Recession inevitable, says Goldman Sachs

With all the indications of a meltdown at Wall street and the unemployment rate growing by the day, it seems that the chances of a recession hitting the United states has grown from 25% to that of 50%. With record numbers of defaulters on Mortgage payments, the banks are tightening the strings on all loans and other forms of credit. With the Dollar taking the plunge to new lows against a whole range of currencies, it is no wonder that most of the economists worldwide are predicting that the Recession has indeed began in the United states.Goldman Sachs believes the recession to be inevitable.

The question that everyone is asking themselves is as whether the U.S economy is strong enough to withstand the cold weather than seems to be ahead. The one thing that the president and his board of advisers are hoping to do is to reduce the taxes with the hope that this will rejuvenate the economy. By itself, it may not, but coupled with the Fed cut that is expected to happen by the end of this month, it may well give that much needed boost to the economy at large.

The Fed is hoping that a cut, even as much as 50 basis points may be what the doctor has ordered. But the Fed should also take care to remember that reducing the interest rates by a large margin could have a very negative impact on the whole. The days ahead will surely tell us if the recession has set in or not. It is no longer a question of 'will it happen' but rather a question of 'when will it happen'.

Wall street turns bleary eyes on to info for next week!

With all the battering that the Wall street had taken over the last few days, it has turned its bleary eyes on to the information like the earnings data,retail sales and the inflation data to get an inkling as to where the markets are headed. But the thing about asking for information is that it may well confirm that recession is already here.
Either way, it is going to be one roller coaster ride and there are not that many takers for the idea of the marker shaking of the 'Bear grip' that it seems to be currently under. With more and more banks coming out with fresh news as to their exposure to the Mortgage crisis, the last thing that the Wall street may need is to know that the companies are cash strapped.
Sometimes, ignorance is a bliss and that may well be the case for the Wall street this week. With indicators already pointing to the red, the ride, it seems, will be heading right to the sub levels of the financial markets.

How quickly do the rich fall!

It seems that it was only yesterday that the Indian share market touched the 20,000 mark creating a history of sorts. That by itself was a bit of remarkable news. But soon the media picked on another bit of 'juicy news' in the making. They started announcing that the recent surge in the Reliance holdings in the share market has made Mukesh Ambani the richest man in the world. That bit of news was not exactly a shocker since the whole Ambani family have a fortune of somewhere around 100 million$.

But soon Reliance came out with a press release telling the whole world that the piece of Juicy news that Mukesh Ambani was the richest man in the world is all a case of 'jumping the gun'. The fact of the matter is that Mukesh Ambani is not yet the richest man in the world but with the way that the intra day trades are taking place in the share market, it is only a matter of time before that becomes a formality!

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